Trading Analysis based purely on Price Action as taught by Nial Fuller at www.learntotradethemarket.com. All I post here are setups which i see fit to trade win or lose.
Wednesday, 27 January 2010
FTSE Count
E wave has reached the area i calculated to reach, hoping 5 down starts now.
Projected length of wave 5 are the length of the A wave triangle or Wave 1
At this moment in time, the triangle drawn is questionable as a symetrical and better suited as a descending. The fib number 5214 as my target for Wave D wouldve suggested it but i didnt pick up on it early enough. Im not fussed what type of triangle it is in any case, im looking for short entries for 5 down and the top of A and C provides that whether its a symetrical triangle or descending
At this moment in time, the triangle drawn is questionable as a symetrical and better suited as a descending. The fib number 5214 as my target for Wave D wouldve suggested it but i didnt pick up on it early enough. Im not fussed what type of triangle it is in any case, im looking for short entries for 5 down and the top of A and C provides that whether its a symetrical triangle or descending
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